Hindustan Petroleum - Buy on dips strategy
Updated
Study:-
Good structure; 2 Inverted H&S formation with double bottom. Increase in volume observed and 20 EMA for Vol is increasing. RSI is in overbought zone. After crossing 200 DEMA gained momentum.
Wait for retracement to happen as already moved substantially.
Observed buying during last hour. Expected to move up.
PCR - 0.99 and put writing observed at 240 level.
* This chart is only for educational purpose.
Good structure; 2 Inverted H&S formation with double bottom. Increase in volume observed and 20 EMA for Vol is increasing. RSI is in overbought zone. After crossing 200 DEMA gained momentum.
Wait for retracement to happen as already moved substantially.
Observed buying during last hour. Expected to move up.
PCR - 0.99 and put writing observed at 240 level.
* This chart is only for educational purpose.
Trade active
Retracement is happening now to gain momentum. Selling is getting absorbed.Trade closed manually
SL Hit on 30th Jun
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